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Third quarter record sales of $1.32 billion drive 11% increase in net income.
October 20, 2017
By: DAVID SAVASTANO
Editor, Ink World Magazine
Sonoco reported financial results for its third quarter, ending Oct. 1, 2017. Net sales for the third quarter were a record $1.32 billion, an increase of $115.9 million, or 9.6%, from last year’s quarter. The improvement in sales was a result of higher selling prices, largely driven by rising raw material prices; sales added from acquisitions, net of divestitures; and the positive impact of foreign exchange. GAAP net income attributable to Sonoco in the third quarter was $72.8 million, o...
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